The Adani Group plans to enter e-commerce and UPI segments to compete with Mukesh Ambani

• The Adani Group intends to step into e-commerce and payments in India.
• Gautam Adani is the second richest person in India, with only Mukesh Ambani before him.
• Adani According to reports, the group is planning to introduce an offer UPI and e-commerce services through the Adani One app.

The Gautam Adani-led Adani Group has a diversified portfolio ranging from ports to energy and more. According to reports, the conglomerate is currently planning to enter the e-commerce and payments segments as the group diversifies.

According to a Financial Times report, the Adani group is in talks to enter the e-commerce and payments segments as it looks to expand its digital business to take over from Mukesh Ambani An industry that relies on trust and Google in India.

While the Adani Group has stakes in several companies, it is yet to make its mark in consumer-facing segments.
Discussions regarding payment license, credit card
According to reports, the Adani Group is considering applying for a license to operate the country’s public digital payments network – Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers.
Press on ONDC
The Adani Group is also reportedly in negotiations to enter the e-commerce segment through the government-backed Open Digital Commerce Network (ONDC). Thanks to interoperable ONDC networks, companies do not have to invest in the development of their own e-commerce platforms or payment systems.

According to reports, ONDC services will be available on the company’s Adani One app, which was launched in 2022. The Adani One app currently offers travel services such as flight and hotel bookings.

The services will initially target the company’s gas and electricity customers, offering them incentives to use the app in the form of cashback and rebates.
To face Mukesh Ambani
Mukesh Ambani and Gautam Adani, the two richest men in India, are vying for the top spot, with Adani holding the top spot for some time.

Gautam Adani’s fortune suffered after the Adani Group’s shares plummeted during the Hindenburg scandal. At the end of January 2023, the American research company Hindenburg published a report on companies owned by Gautam Adani, accusing him of, among other things, stock manipulation.

Shares of Adani Group rallied after the country’s Apex Court ruled in favor of the group. Adani even became the richest person in India, increasing his fortune by $7.67 billion in a short period of time.

Although Mukesh Ambani has regained the top spot, the lead is narrowing again. According to the Bloomberg Billionaire’s Index, Gautam Adani’s net worth has now risen to $109 billion, just behind Mukesh Ambani, whose valuation is $114 billion, narrowing the gap to $5 billion.

Last year, Adani’s fortune increased by $25 billion and Ambani’s by $17.3 billion. Despite this growth, Adani’s fortune has not yet reached its peak of $119 billion.

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